by our College Data Analytics TeamThis page focuses on the debt students take on to attend Larry’s Barber College-Joliet: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. The data below is drawn directly from federal sources.
For incoming students at Larry’s Barber College-Joliet, 88% of incoming undergraduates borrow in year one, at roughly $3,854 per student, private and federal loans combined.
On the federal side, the average loan is $3,854, or about 70.1% of the $5,500 federal limit that applies to a typical first-year dependent borrower. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Counting every undergraduate at Larry’s Barber College-Joliet, 52% rely on federal student loans toward their education, for a typical $4,470 per year. This is 16.0% above the first-year federal average of $3,854.
Repeating that yearly amount projects to about $8,940 in two years and roughly $17,880 across a four-year program. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 52% |
| Average federal loan per year | $4,470 |
| Undergraduates with a federal loan | 14 |
| Total federal loans (one year) | $62,580 |
The middle borrower at Larry’s Barber College-Joliet owes $3,723 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $3,723 |
| Students who completed (graduates) | $3,945 |
| Students who withdrew | $3,500 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at Larry’s Barber College-Joliet.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $928 |
| 75th percentile | $2,700 |
These figures turn the debt totals into a monthly repayment picture for Larry’s Barber College-Joliet.
Borrowing varies by family income, by first-generation status, and by dependency status.
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,848 |
| Independent students | $3,693 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at Larry’s Barber College-Joliet.
Subsidized and Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Worth Knowing
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.